• HEPCO Privatization: Once Bitten, Twice Bitten, Thrice?

    This is the story of Iran’s largest producer of mineral machinery, Heavy Equipment Production Company (HEPCO), who weathered two privatizations, two financial collapses and is now going through its second return to the government.
    HEPCO once used to command respect, not only in Iran but also in the Middle East. It was the main supplier of armored road machinery for Iranian forces in the 1980-88 Iran-Iraq War, had one of the largest workforce of specialized engineers in post-revolution Iran and singlehandedly met the market demand.
    But now its second primary shareholder in less than a decade has quit after months of worker strikes and inactivity in the factory, leaving the firm in limbo.
    The path ahead is still unknown for HEPCO. Legally speaking, the company should go to the previous owner, in view of the current one’s withdrawal. But the previous owner, under whose lead HEPCO withered, seems unenthusiastic to take the helm again, and so are the government officials in charge of the share transfer.

Domestic Economy

  • Garmsar-Incheh Borun Railroad Electrification Awaits Funds
    04/30/2018
    The project to electrify the 430-kilometer-long Garmsar-Sari-Gorgan-Incheh Borun Railroad will kick off in the current Iranian year (started March 21), the deputy head of the Islamic Republic of...
  • $10m Import Cap  Set for Iranian FTZs
    04/30/2018
    The Islamic Republic of Iran Customs Administration has set a $10-million cap on imports for each free trade and special economic zone in Iran during the first quarter of the current fiscal (March...
  • Freight Loading in Isfahan  Up 55 Percent
    04/30/2018
    More than 340,500 tons of goods were loaded on 5,845 freight wagons in Isfahan during the first month of the current Iranian year (March 21-April 21), indicating a 55% rise in the throughput volume...
  • SCI put the last fiscal year’s (March 2017-18) labor force participation rate at 40.3% or 26.58 million people.
    04/30/2018
    Iran’s labor force participation rate—the share of the population ages 10 years and older working or actively seeking work—in the last fiscal year (March 2017-18) was 40.3% and included 26.58...
  • 1st International IranVet Exhibit Scheduled  for July
    04/30/2018
    The First International IranVet Exhibition is scheduled to open on July 21 and run through July 25 at Tehran’s Grand Mosalla.  The Ministry of Health and Medical Education, Iran Veterinary...
  • 32% Rise in Paper Production
    04/30/2018
    A total of 770,000 tons of paper, including newsprint, book paper, tissue, packaging paper and cardboard, were produced in Iran in the last fiscal year (March 2017-18), registering a 32% rise...
  • Non-Oil Export Production Units Witness 37% Rise
    04/30/2018
    A total of 11,000 production units are engaged in non-oil exports in the last fiscal year (March 2017-18), marking a rise of 37% compared with close to 8,000 units the year before, thes deputy...
  • Iran Air established its office in Doha nearly 50 years ago.
    04/30/2018
    Iran Air, the country’s flag carrier, announced plans to increase its weekly flights to Qatari capital Doha from May 1, to meet the growing demand for flights to Qatar and in line with the...
  • Iran-EU Trade Hit €3.7b
    04/30/2018
    Iran traded €3.74 billion worth of commodities with the 28 members of the European Union during the first two months of 2018 to register a 17.4% year-on-year growth, Eurostat data shared with the...
  • Non-Oil Trade With France Grows Over 80%
    04/29/2018
    Iran traded $1.8 billion worth of non-oil goods with France in the last Iranian year (ended March 20, 2018), which were 81.84% more compared to the year before, making the European country Iran’s...
  • 04/29/2018
    Deputy Minister of Roads and Urban Development Mehrdad Taqizadeh said 700 out of 1,000 speed cameras on Iranian roads are point-to-point ones that automatically track speeders based on the amount...
  • Exports From Bushehr Hit $15b
    04/29/2018
    About 37.8 million tons of commodities worth $15.08 billion were exported from Bushehr Province in southern Iran during the last fiscal year (March 2017-18), the head of Bushehr Industries, Mining...
  • Hamid Kargar
    04/29/2018
    India is currently posing the main challenge to Persian hand-woven carpets, as the country has captured part of the world markets previously dominated by Iran, the chairman of Iran National Carpet...
  • The Central Bank of Iran calculates IPI using data on large industrial units with 100 workers or more operating in 24 industries.
    04/29/2018
    Most Iranian industries were on the path to growth during the three quarters of the previous fiscal year, but only a few accelerated enough to put recession behind them, according to the latest...
  • 04/29/2018
    Trade between Iran and Jordan stands at $180 million per year, with Iran accounting for more than 80% of the sum.  However, the Arab country has set high import tariffs for Iranian products,...
  • Minister of Industries, Mining and Trade Mohammad Shariatmadari (C) inaugurated the second production phase of Parla Textile Company in Tabriz on April 24.
    04/29/2018
    The second production phase of Parla Textile Company was inaugurated by Minister of Industries, Mining and Trade Mohammad Shariatmadari last week. Located in Tabriz, Parla Textile Company operates...
  • Skopje Hosts Iran-Macedonia Business Forum
    04/28/2018
    A forum between Iranian and Macedonian businesspeople was held in Skopje on Thursday.  The Iranian side was led by Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture...
  • Trade With Pakistan  Hits $1.3b
    04/28/2018
    Iran’s commercial exchanges with Pakistan reached $1.3 billion during the last fiscal year (March 2017-18), marking a rise of close to 15% compared to the year before, Iran’s ambassador to Pakistan...
  • India Eyes Preferential Trade Deal With Iran
    04/28/2018
    Keeping its promise to Iranian President Hassan Rouhani during his visit in February, the Indian government has started examining the feasibility of a preferential trade agreement with the Islamic...
  • Millet Imports  at Over $10m
    04/28/2018
    Close to 26,580 tons of millet worth over 361.57 billion rials ($10.6 million) were imported in the last Iranian year (March 2017-18), data released by the Islamic Republic of Iran Customs...
  • No Pay Rise for Officials, Executives  This Year
    04/28/2018
    Top government officials, managing directors, members of the board of directors, provincial governors, as well as mayors and city councilors of provincial capitals will not receive a pay rise in...
  • Letters of intent were signed between Sukhoi Civil Aircraft Company and two Iranian airlines on the sidelines of Turkey’s Eurasia Airshow for the purchase of 20 Superjet 100 each on April 26.
    04/28/2018
    Iran Aseman and Iran Air Tours signed letters of intent on Thursday with Sukhoi Civil Aircraft Company at Turkey’s Eurasia Airshow, calling for the delivery of a customized version of the Superjet...
  • Iran Foreign Trade Rises 12% to $5.6b (March-April 2018)
    04/27/2018
    Iran’s non-oil foreign trade in the first month of the current fiscal year (March 21-April 20) stood at $5.66 billion, indicating a 12% rise compared with last year’s corresponding period. Non-oil...
  • Forum on Exports to Caspian States Scheduled
    04/26/2018
    The northern port and free trade zone of Amirabad, located in Mazandaran Province, will host a forum on marine exports to Caspian Sea littoral states on July 11, the port’s director said on Tuesday...
  • Pensions Account for Biggest Share of Treasury Payments
    04/26/2018
    Payments to the Civil Servants Pension Organization accounted for the biggest part of the government’s expenditure in the first month of the current Iranian year (March 21-April 20).  The fund has...

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